Business

India’s crude processing by refiners fell in April as supply disruptions linked to the Middle East conflict changing crude sourcing patterns and maintenance shutdowns weighed on refinery operations, according to provisional government data reviewed by Reuters.India processed 5.23 million barrels per day (mbpd), or 21.39 million metric tonnes of crude oil in April, down 8.9…

Mumbai: YES Securities (India) Limited, a subsidiary of YES Bank Limited, has been penalised by the National Stock Exchange of India Limited for passing on regulatory penalties to its clients, in violation of market norms laid down by the Securities and Exchange Board of India.The breach relates to margin requirements, where brokers are mandated to…

Fuel price hikes impact the common man through several channels, leading to lower disposable income in hand, higher cost of travel. (AI image) Almost three months after the start of the US-Iran war, the economic fallout from the Middle East is beginning to hit home. Finance Minister Nirmala Sitharaman has expressed concern on 3Fs: fuel,…

In a posh to raise around Rs 5,000 crore for the exchequer, the government will sell up to a 2 per cent stake in Coal India through an offer for sale (OFS), with a floor price of Rs 412 per share, PTI reported.The sale comprises a base offer of 1 per cent equity and an…

Insurance regulator Irdai has directed insurers to link the remuneration of managing directors (MDs), chief executive officers (CEOs) and other senior executives to customer-centric outcomes, including claim responsiveness, grievance redressal and the overall financial health of the company, PTI reported.The Insurance Regulatory and Development Authority of India (Irdai) issued amendments under the IRDAI (Corporate Governance…

British oil giant BP has removed Albert Manifold as chairman less than a year after he took over the role, citing what it described as “serious concerns” over governance, oversight and conduct at the company, AFP reported.The company announced on Tuesday that board member Ian Tyler has been appointed interim chairman with immediate effect.“The board…

State-run Union Bank of India on Tuesday approved plans to raise up to Rs 8,000 crore through a mix of debt and equity instruments, PTI reported.In a regulatory filing to the BSE, the bank said its board had approved raising debt capital of up to Rs 5,000 crore through Basel III-compliant Additional Tier-1 bonds and/or…

Rising silver prices are not just pushing investment demand, they are also opening the door to a surge of impure silver bars and coins in the Indian market. The trend has raised concerns among industry stakeholders over widespread counterfeiting and lapses in quality standards. Precious metal refiners have now stepped up calls for the Bureau…

Data from USCIS shows that nearly 540,000 family-sponsored green card applications and about 170,000 employment-based applications are currently pending. (AI image) Green card hopefuls in the US have been handed over a fresh challenge by the Donald Trump administration: most immigrants seeking green cards have to leave the United States and complete the application process…

Global investors have sold nearly $24 billion worth of Indian equities so far this year as capital shifted towards the artificial intelligence-driven rally in Taiwan. (AI image) After months of AI-led rallies, Taiwan has finally overtaken India in terms of total stock market valuation, driven largely by the sharp rally in shares of Taiwan Semiconductor…